EverestHike Inc. manufactures hiking footware. During the month of June, the company purchased raw materials amounting to $78,100, had direct labor amounting to $12,800, and factory overhead is 70% of direct labor. Sales revenue for June was $220,000. The selling expenses and administrative expenses are $32,400 and $34,200, respectively. Below is the partial comparative balance sheet of the company for the month of June 2022.

EverestHike Inc. manufactures hiking footware. During the month of June, the company purchased raw materials amounting to $78,100, had direct labor amounting to $12,800, and factory overhead is 70% of direct labor. Sales revenue for June was $220,000. The selling expenses and administrative expenses are $32,400 and $34,200, respectively. Below is the partial comparative balance sheet of the company for the month of June 2022. Everesthike Inc. Raw Materials Available for Use Raw Materials Inventory, June 30 Direct Materials Requisitioned Direct Labor Total Factory Overhead Work-in-Process Inventory, June 30 Raw Materials Inventory, May 31 Raw Material Purchases Raw Materials Available for Use Raw Materials Inventory, June 30 Direct Materials Requisitioned Direct Labor Total Factory Overhead Work-in-Process Inventory, June 30 Cost of Goodsi Manufactured b) Prepare an income statement for June. Cost of Goods Manufactured Finished Goods Inventory, June 30 Gross Profit Operating Expenses Selling Expenses Administrative Expenses Net income